Top crypto tweets of the day – May 16th

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• Ripple Chief Legal Officer opposes SEC’s interlocutory appeal move

  TL;DR Breakdown Ripple Labs opposes SEC’s appeal for interlocutory review in the ongoing case. Chief Legal Officer highlights the court’s stance on resolving issues before appeal. SEC determined to pursue the interlocutory appeal to address partial setback. Description Ripple Labs has taken a firm stance against the Securities and Exchange Commission’s (SEC) recent move, aiming to secure an interlocutory appeal following a summary judgment order in an ongoing case that has sent ripples through the cryptocurrency industry. The company’s Chief Legal Officer, Stuart Alderoty, expressed the company’s opposition to the social media platform … Read more Ripple Labs has taken a firm stance against the Securities and Exchange Commission’s (SEC) recent move, aiming to secure an interlocutory appeal following a summary judgment order in an ongoing case that has sent ripples through the cryptocurrency industry. The company’s Chief Legal Officer, Stuart Alderoty, expressed the company’s opposition to the social media platform formerly known as Twitter. Alderoty highlighted the court’s assertion that no extraordinary circumstances justified departing from the rule that mandates the resolution of all issues pertaining to all parties…

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• RBI Highlights Risks of Stablecoins for Developing Economies

  TL;DR Breakdown The RBI warns that stablecoins can harm emerging markets and developing economies through currency substitution, disrupting the financial system and impeding credit risk assessment. The pseudonymous nature of stablecoin transactions raises concerns about tracking and potential misuse, posing challenges for regulatory authorities. Description In its latest Financial Stability Report released on June 28, the Reserve Bank of India (RBI) has underscored the potential dangers associated with stablecoins and their impact on emerging markets and developing economies (EMDEs). The RBI, known for its skeptical stance on cryptocurrencies, outlined six specific risks that stablecoins pose, urging global regulatory authorities to … Read more In its latest Financial Stability Report released on June 28, the Reserve Bank of India (RBI) has underscored the potential dangers associated with stablecoins and their impact on emerging markets and developing economies (EMDEs). The RBI, known for its skeptical stance on cryptocurrencies, outlined six specific risks that stablecoins pose, urging global regulatory authorities to take decisive action. This report comes as central banks worldwide grapple with the challenges and opportunities presented by digital currencies. Contents hide…

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• Arkham Intelligence’s legitimacy questioned in crypto community

  TL;DR Breakdown Arkham Intelligence, known for its mission to ‘deanonymize the blockchain’, faces scrutiny over its legitimacy and affiliations. The company’s controversial Arkham ICP Report in 2021, accusing DFINITY’s Internet Computer network of being a pump-and-dump scheme, raised questions due to its lack of solid evidence. Speculations suggest that Arkham might have been commissioned to produce the defamatory report, potentially by a competitor. Description In the latest online buzz surrounding Arkham Intelligence, a company making waves in the world of cryptocurrency, questions arise about its legitimacy and transparency. The crypto community is filled with chatter about the questionable practices and unclear affiliations of this rapidly growing blockchain enterprise. The Arkham saga Arkham, rising to prominence with its aggressive mission … Read more In the latest online buzz surrounding Arkham Intelligence, a company making waves in the world of cryptocurrency, questions arise about its legitimacy and transparency. The crypto community is filled with chatter about the questionable practices and unclear affiliations of this rapidly growing blockchain enterprise. The Arkham saga Arkham, rising to prominence with its aggressive mission to ‘deanonymize the…

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• Crypto job boom in Hong Kong? Recruiters disagree

  TL;DR Breakdown Despite crypto firms rushing to establish bases in Hong Kong, local recruitment in the sector is low. The volatility of crypto businesses and their dependency on fluctuating cryptocurrency prices have deterred potential recruits. The exodus of specialized talent from Hong Kong has led to a competitive talent market. Description In the buzzing digital landscape of Hong Kong, there’s a curious anomaly. Despite a high-octane rush from numerous crypto firms vying to establish their base in the city, the anticipated explosion in crypto-related employment has not materialized. This is not speculation, but the reality as observed by some of the most well-established recruitment firms in … Read more In the buzzing digital landscape of Hong Kong, there’s a curious anomaly. Despite a high-octane rush from numerous crypto firms vying to establish their base in the city, the anticipated explosion in crypto-related employment has not materialized. This is not speculation, but the reality as observed by some of the most well-established recruitment firms in the city. The crypto mirage The crypto allure of Hong Kong, it appears, is predominantly theoretical…

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• Hong Kong enlists HSBC, Visa, and more to test digital currency

  TL;DR Breakdown Hong Kong has begun testing a digital version of its currency, e-HKD, enlisting 16 firms, including HSBC, Bank of China Ltd., Alipay, and Visa for a pilot program. The trial focuses on exploring potential uses of the e-HKD in six key areas, including offline payments. Hong Kong has taken a step towards digital currency innovation with the launch of a pilot program to test an electronic version of the Hong Kong dollar, the e-HKD. The city has enlisted 16 firms, including banking giant HSBC Holdings Plc, the local branch of Bank of China Ltd., Alipay, a leading e-payment provider, and multinational financial corporation Visa Inc. This initiative underscores the metropolis’s increasing focus on cementing its reputation as a global fintech hub. Key players and prospective use cases The initiative draws upon a range of industry leaders in finance and technology. These entities have committed to investigating the viability and application of the e-HKD across various economic sectors. One of the key areas of interest is the possibility of using digital currency for offline payments, a move that could…

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